Energy Transfer Partners aims to acquire remainder of Houston MLP's units

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Dallas-based Energy Transfer Partners LP (NYSE: ETP) launched a tender offer May 18 to buy the rest of PennTex Midstream Partners LP’s (Nasdaq: PTXP) common units for $20 each. The tender offer expires June 19, and the transaction’s value is estimated at $280.25 million, according to a filing with the U.S. Securities and Exchange Commission. ETP already owns about 32.4 percent of PennTex’s outstanding common units. ETP only needs another 47.6 percent to reach a total of 80 percent and exercise...

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